How Can I Sign North Dakota Banking Presentation

Industry sign banking north dakota presentation fast

whether in today's presentation is a bit different than that others directly dealing with the survival trees or directly like that but thanks early in our society so to ago giving a presentation the industries are all but also some specifics about his desire for trouble we caught a community bank a publicly public man in County so I think you snacks here I think okay it's all yours thank you very much Gary so again my name is shake toggle and I got involved in what we would like to call as a public banking movement after the Dakota access pipeline party so I was in standing around for a week volunteering out there and upon coming back home started to really look into environmental divestment of divestment my own personal finance from fossil fuels going through my 401k which I don't have very much in there so it makes it easy I don't own the home so I don't need to change a home loan over and it was very quickly able to hit a wall at what I could do with my own finances to make an impact then started to turn to some banners so what came out of it was cities beginning to divest as people took their own actions and became empowered cities like Seattle like Oakland San Francisco I'm all started to look at how they could divest their budgets and their pension funds etc from some of these banks that were funding fossil fuel pipelines and as you dig deeper creating environmental destruction across the board so everyone started to come into a place where if you don't have a credit union that's which credit unions are generally small and wouldn't support hundreds of millions billions of dollars what do you do and how about making hold its head around from something that wasn't talked about for almost a hundred years the Bank of North Dakota is the longest standing public bank in the United States it's owned by the government of North Dakota and it holds their state money so a public bank is a charter depository and where public funds are possible it's owned by a government entity that could be a state it could be a county if you get City it could be a Board of Education any at the water district any government entity could potentially own a public bank when they choose to or not choose to is more dependent on how much money they can save and whether it's feasible whether the public entity runs anything it moves itself away from a mandate of simply making profit and towards a public good justify why this is good for community why this is good for our students our parents our children the environment how are we going to see this return not just in dollars but in community benefit again people like to think when you mention a bank that's run by the government that is going to be run by government employees the gridlock that we have in Washington or even to some people's understanding of Sacramento that politicians tend to make things slow and possibilities of corruption this is still a bank run by matters so this hope is that you give someone with a degree in finance with experience running a bank itself the opportunity to make decisions not just based off a profit but based off of community benefit Eric touched on that a little bit banking is important it's how we have decided we're going to determine what economic communities is positive or negative and right now we're only using profit to analyze that Thanks also provide a service by creating now it's done electronic yeah so if I put a hundred dollars into a bank they can loan out ninety dollars based off of the Federal Reserve's requirement and while my bank account still says 100 when I check it online somebody else's bank account they got nine you got alone says ninety dollars Wow the bank didn't prints anything they just changed some numbers online and now that you dollars was created some total in the economy available for spending is $190 and when you aggregate that over people if it's the state of California the United States you can create a lot of money and you essentially diversify that risk right in some ways if me and the person that had $90 of mine asked for all of it at one time that's when you run into a problem but you diversify over groups of people and a healthy economy and that doesn't happen the public bank would benefit us by taking what money we don't have control of now that we give to a private for-profit bank to hold generally we paid them hundreds of billions of dollars depending on the size of the public entity to manage that money and then they take that money that you own it however they see fit and they make as much profit as a hospital camp so by taking the money that we put in these things putting institution we can start to leverage the same abilities that we give a private bank the same privileges that they have to create money that doesn't exist to decide who gets loan for their house or for their student loans etc for their small business and we can start to have some control over that as a community we can put democracy back in our monetary system by saying we know that money and profit aren't the only reasons that you would want to give someone money and then we know that not everyone can afford to take money if you're gonna pull as much as you humanly can from this in order to line your own pockets for your shareholder so public bank is not a private think it's not a community bank ensoniq right it shares some similarities that has some your snake differences so a public bank its entire mandate is that it serves the public interest the money it makes the Bloodless actually comes back into the public so say the bank makes three percent off of a loan that it gives to a school that school is paying money not to some bank that's gonna put it in other funds overseas or some shareholders pocket that's gonna hide it offshore in the Canary Islands that money is just going to go to the counter after the city through the leverage so that we can wound it out somewhere else so in one way you're able to reduce the amount that someone would have to pay an interest if you're loaning to yourself or another government entity that has a public mandate their interest rate goes down and at the same time all of that interest stays within our community traffic on banks responsible avoiding their shareholders all the money they make gets siphoned out of our community or mostly the public banks still engages in the faction fractional reserve lending it's still going to extend credit and make loans they can accept deposits and then it can borrow to meet on that reserves and that's one of the interesting things that all banks that have an account that in the Fed can borrow if they're short for the day and they borrow it I think 2.2 percent which is really love most of us don't even make point two percent on our savings accounts but we get charged six percent for our cards all depends on your wealth and it's been that way they go to the poorest of us because they're ended up in a higher risk scenario where their charters theoretically the public banking unit is essentially nonprofit yeah but you would want to make sure that you're covering yeah what obligations you have in the future Reserve right so we've three main examples in the u.s. I talked about the Bank of Norfolk it's original foundation was actually a very interesting story so agriculture and farmers in the early 1900s realized that Wall Street banks were really screwing them over they were consolidating their lands forcing them to move to cities because they were the ones that are charging them interest for the opportunities for them to expand their production to get new technology to implement the new learning techniques device II and they kind of staged a revolt and what they came up with was we as an agricultural state want to be able to provide loans to our neighbors using our excess money and not have a go problem not how to go outside the state of North Dakota and they've been really successful so over the last hundred years they turn three hundred million dollars into the state's general fund so the state has made money off of the bank but they get to that loan out to the rest of their community the two more recent examples are the cheque it's called Bank - so a tried its own in theories on the government entity created the bank to serve its population that was being underserved by traditional for-profit thing they differ from the Bank of North Dakota in some ways where they provide that home loans they provide more direct banking services to their community and they've also been really successful so since 2002 they seven point five million one hundred and thirty five million in assets just making local community ones and that is through the 2008 financial crash when those banks that were community banks took a really big debt they were able to stay solvent because they weren't also trying to invest in Wall Street they were investing in their neighbors in their community and it creates a real stable economic that situation and more recently we kind of had the capitalist head and for-profit banking the island of American Samoa had only one private bank servicing in across time it was the Bank of Hawaii - just Knobble of a bank it's a privately when the Bank of Hawaii said this isn't profitable for us we're losing money by combining services on this island and they left so when they left [Music] I know so that's kind of the problem right so in 2012 when their private the private bank pull out there was no one to make Lloyds you know there was no thing so people couldn't go anywhere to ask for them they didn't have a place to deposit their money so for almost six years they've done almost entirely on the cash economy they really hurt their ability to grow as an island because in order to make productive economic growth you need to have one you need to have people that can move their money from one place to another or invest and that's really hard to do with that thing so just last year the island decided they were going to create their own public way to solve this issue but the United States is not the only place that is half Dublin Bank and had success with public banking a lot of the growth attributed to some of the BRIC countries of Brazil India Russia China is because they also implement a public banking strategy as part of their social capitalistic quasi economy and so only about 40% of all the things in the world all the money owned is actually [Music] that's why I'm talking to you is we're trying to make it happen oh so it's been that out of the conversation than in the United States for a long time but just getting involved with this last year I didn't know that there was a Bank of North Dakota that was a publicly run it it's brick so it's a term that means Brazil India Brazil Russia India China Brazil because in Russia are India and China Sea so brick it in geopolitical terms as are the countries that kind of tend to go counter to what the US and the EU are doing in certain strategies and so they kind of have a bit of a partnership in developing their own financial models which implementable banking because the u.s. is tradition we've done a lot of work through the IMF and the World Bank to coordinate how developing nations grow in order to cultivate our own corporate interests that's it my take on that anyway I've worked in China you walk down the street and every bank is a publicly there's the Bank of Agriculture or the bank of construction the Bank of China and it's allowed them to grow their middle class much more strongly than we have while providing food and services and rural license right the bank understands that agriculture is still something that they need and it's not always going to be the most profitable but it creates stability for their economy so how do we create a meaningful change here we'll be ok the divestment movement is huge and it's still growing and people are still acting on how do i divestment all the money personally out of my does my money share my talents so over 700,000 people divesting worldwide after the defund Athenaeum a six point two four trillion dollars was pledged to be divested from different institutions public private nonprofit it's a lot of money and if America stands for anything it stands for the fact that money talks the problem is not everything in our economy is valued in the same way or looked at by a bank in the same way so we as a community are already paying for the cost of climate change we hasn't blow a zoonosis a human race were already paying for things that other people were but the expansion of fossil fuels the use of fossil fuels is devastating communities all over the world and that economic impact does not go back to the people that are creating even in California places it's extremely wealthy they has resources technology educated population it's still going to be devastated by climate change if we don't make changes to the way that our system works and every year that we wait implementing the solutions gets more expensive and coming back from the disasters gets more expensive all of our systems are at risk from climate change whether it's transportation whether it's agriculture whether it's education whether it's technology if we don't have an environment it's functioning as healthy that creates that keeps people safe then they can go off and do the other things that people will say makes the United States an amazing and so the problem hasn't really necessarily been that we're looking to scientists for a solution there are a lot of proposals out there but say if we just spent the money and did it in the right way that we would have vast improvements in the way that were fighting the climate crisis things that we tend not to do because ask how we're going to take implementing transportation overhaul providing solar to low-income neighbors getting people off the roads and onto their bikes making lanes commuters friendly like all of these things switching over our agriculture system from monoculture to poly culture and etc all of those things take massive societal collaboration and it's not that we're not smart enough is that people are stuck based off of the monetary incentives that keep them fed that bring their keep their children in schools and good education plans so they don't have time to take a pay cut to do something that they might care about or that's more fulfilling Santa Clara County has its own set of problems it's not all of them are unique but what they share is that they all take money to solve the number one issue that's changed in Santa Clara County over the last ten years has been housing I think we all feel that building while income housing building extremely is something that again we asked how are you going to pay to that transportation all the traffic implementing light rail structures that are actually usable that run on time that have enough frequency that people are willing to take them making roads bicycle friend my boss works two miles from where he lives he's got two daughters and he can't afford to get hit by a car that just that step what he told me he's an avid mountain biker and he won't bike to work because the infrastructure is not there this happens for most of us all the time when you're when we understand what the climate crisis really needs the decision that we make come down to the fact that we can't afford to do our selves not that we don't want to because everyone in this room wants to make those decisions and we want to make those decisions easier and that costs money combating homelessness is a huge upfront loaded cost right we paid over five hundred twenty million dollars as a county every year for the result of homelessness